Sembehun Project Feasibility and Market Dynamics
Demerger Overview
Sierra Rutile Limited
The demerger will result in two separate ASX-listed companies – Iluka will be a global critical minerals company (mineral sands and rare earths), while
Sierra Rutile will be one of the world's largest natural rutile producers.
Overview
The demerger will result in two independent ASX-listed companies, lluka and
Sierra Rutile, each with a management team focused on pursuing its own
growth strategy.
Iluka shareholders will have the opportunity to vote on the Demerger at the
Extraordinary General Meeting on 22 July 2022.
.
Iluka Directors unanimously recommend that Iluka shareholders vote in
favour of the Demerger Resolution
The Independent Expert has concluded that the Demerger is in the best
interests of Iluka shareholders
Iluka shareholders will be entitled to receive 1 share in Sierra Rutile for each
share held in Iluka as at the Record Date.
Demerger Benefits
•
.
The demerger of Sierra Rutile is the optimal pathway to reach its potential and
maximise value for Shareholders:
focussed on maximising value from the remaining producing deposits at
Area 1 and continue to progress the globally significant Sembehun Project.
established with a dedicated high quality Board and management team.
The demerger will simplify lluka's structure and ensure management focus is
on its core Australian assets and diversification into rare earths.
A demerger from Iluka provides investors with a choice to select the level of
their intended investment exposure to each business.
Post-demerger Structure
Iluka Shareholders
100%
Iluka Resources Limited
(ex. Sierra Rutile
Holdings Limited)
ASX:ILU
100%
Sierra Rutile
Holdings Limited¹
ASX:SRX
Note: (1) Post-demerger, Sierra Rutile will have approximately 424.2 million shares on issue.
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